jackjack
Posts:155
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| 07/21/2008 9:06 PM |
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I did a little research on San Diego County NODs comparing the first half of last year with the first half of this year. It looks very ugly. The trend has actually accelerated upward MONTH AFTER MONTH at a 0.5 reading since 12/06. It is really hard to sustain an upward trend like that.
1/1/07 - 6/30/07: 8,183
1/1/08 - 6/30/08: 18,513 |
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jpinpb
Posts:1450
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| 07/21/2008 9:26 PM |
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| WOW! I knew there were NODs, especially since I'm monitoring them in about 10 zip codes, but when you have an overall number like that, rather than individually, that's quite impressive. |
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Mike18
Posts:8
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| 07/21/2008 9:48 PM |
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| where do you guys get your NOD info from? |
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Brian
Posts:2210
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| 07/21/2008 10:30 PM |
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| That's why I'm predicting that we'll go back to Year 2000 prices. |
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LoonyQT
Posts:894
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| 07/21/2008 11:55 PM |
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| I like the graphs on the ENGH report (whoever the heck they are, so take with a grain of salt): Mortgage Default Report |
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LoonyQT
Posts:894
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| 07/21/2008 11:56 PM |
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| like this graph from there: |
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jpinpb
Posts:1450
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| 07/22/2008 7:15 AM |
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| Loony - you sure like those pretty pictures. Thanks for posting them. Very telling. |
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ElPato
Posts:350
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| 07/22/2008 7:25 AM |
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Another excellent source of foreclosure data:
http://www.foreclosureforum.com/stats.html
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jackjack
Posts:155
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| 07/22/2008 9:33 AM |
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Posted By Mike18 on 07/21/2008 9:48 PM
where do you guys get your NOD info from?
I get my data from the San Diego Daily Transcript. You might have to pay for a subscription. You can get it from Dataquick as well but they are get of pricey. I am going to try to put the link for the Daily Transcript below here:
sddt
I'll tabulate how many notice of trustee's sales were recorded (the notice the banks record 21 days before the foreclosure sale) this year versus last as well and generate a trend reading. |
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eric3
Posts:45
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| 07/22/2008 9:34 PM |
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NOD's can be very misleading. If it is possible, you need to look at the rate that NODS turn into completed foreclosures.
In my area, which is admittedly not CA, loan modifications have exploded in number recently. So much so that NOD's are going to auction at about half the rate as 1 year ago.
If it is similar in SD, then the actual number of homes going to auction is just a little higher year over year.
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jpinpb
Posts:1450
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| 07/22/2008 9:50 PM |
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Well, I can only speak to the 10 or so zip codes I'm monitoring. I'd say conservatively, 99% of the NODs I see have gone to foreclosure. 1% get sold in time or redeemed. Those redeemed, I've seen get future NODs. I have seen foreclosures delayed a few times also.
As an example, 6616 Tyrian. The lady that owns this place owns 4 other properties. All had NODs. One she managed to sell before the foreclosure date. The others have scheduled foreclosure dates pending. I 'm pretty confident that the one she owns on |
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jpinpb
Posts:1450
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jpinpb
Posts:1450
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punstress
Posts:123
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| 07/22/2008 10:57 PM |
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I was at the county building last week and searched for Notices of Trustee Sales just for that week. In fact since it was on a Friday, I don't know if that day's entries were included. But in all of SD County there were more than 1,400. The woman working there said it's pretty much between 300-400 per day every day.
I haven't been down to the courthouse to witness an auction but I can only imagine how ridiculous it must be at this point with so, so, so many properties. |
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TyroneB
Posts:119
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TyroneB
Posts:119
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| 07/22/2008 11:02 PM |
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Image didn't post; one more try...
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TyroneB
Posts:119
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| 07/22/2008 11:12 PM |
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jackjack
Posts:155
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| 07/23/2008 8:15 AM |
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Posted By punstress on 07/22/2008 10:57 PM
I was at the county building last week and searched for Notices of Trustee Sales just for that week. In fact since it was on a Friday, I don't know if that day's entries were included. But in all of SD County there were more than 1,400. The woman working there said it's pretty much between 300-400 per day every day.
I haven't been down to the courthouse to witness an auction but I can only imagine how ridiculous it must be at this point with so, so, so many properties.
The Daily Transcript's online system caps off at 200 per day. However, 200 NOD per day only happened a handlful of times. NOT should be a smaller number than NODs, so I would view what this County lady said to you with suspicion.
BTW, does anyone have a reliable source for monthly readings of NODs and NOTs, besides Dataquick (as they are too expensive) that does not cap it off at 200? |
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ElPato
Posts:350
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| 07/24/2008 8:01 AM |
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>> BTW, does anyone have a reliable source for monthly readings of NODs and NOTs, besides Dataquick (as they are too expensive) that does not cap it off at 200?
http://www.foreclosureforum.com/stats.html |
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jackjack
Posts:155
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| 07/24/2008 9:06 AM |
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Posted By ElPato on 07/24/2008 8:01 AM
>> BTW, does anyone have a reliable source for monthly readings of NODs and NOTs, besides Dataquick (as they are too expensive) that does not cap it off at 200?
http://www.foreclosureforum.com/stats.html
Is this reliable? It seems like a hack runs the site? Where does he get his data from? Every single month from January 2007 through the present is at odds with the San Diego Daily Transcript. Note that even certain months there were no "200" readings. What explains the disparity? |
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